Congressional Research Service Reports - 48 Matching Results

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Excise Taxes on Alcohol, Tobacco, and Gasoline: History and Inflation Adjusted Rates

Description: This report provides inflation adjusted excise tax rates for alcohol, tobacco, and gasoline products. The base for computation is November 1951; the adjustments show what the tax rates would be if they had been increased to reflect inflation. All of the above cited commodities had rate increases effective for that date under the Revenue Act of 1951. Just as the Congress was prepared to lower excise tax rates because of peacetime conditions, plans had to be revised as a result of the start of the Korean War. Thus, the Revenue Act of 1951 was born out of revenue needs due to increased military expenditures.
Date: March 7, 1997
Creator: Talley, Louis Alan & Cashell, Brian W.
Partner: UNT Libraries Government Documents Department

The Work Opportunity Tax Credit and the 105th Congress

Description: The Work Opportunity Tax Credit (WOTC) was initiated in the Small Business Job Protection Act of 1996 (P.L. 104-188). It is a temporary measure intended to encourage for-profit employers to hire members of specifically designated groups thought to experience recurring problems in the labor market. This document describes the WOTC and identifies issues for members of the 105th Congress.
Date: May 14, 1998
Creator: Levine, Linda
Partner: UNT Libraries Government Documents Department

Alcohol Fuels Tax Incentives and the EPA Renewable Oxygenate Requirement

Description: This report examines the current alcohol fuels Federal tax incentives. Part I describes the statutory provisions of each of the five incentives. Part II examines the major public policy and economic issues of concern to policymakers: potential revenue effects, effectiveness, and economic efficiency.
Date: October 7, 1994
Creator: Lazzari, Salvatore
Partner: UNT Libraries Government Documents Department

Alcohol Fuels Tax Incentive

Description: This report discusses federal tax subsidies for alcohol transportation fuels, as well as legislative actions underway to repeal, extend, or reduce them.
Date: June 23, 1999
Creator: Lazzari, Salvatore
Partner: UNT Libraries Government Documents Department

IRS Reform: Innocent Spouse Rule

Description: Married couples filing joint tax returns are liable individually and as a couple for all taxes due on the return with a limited exemption for innocent spouses. This report discusses joint and several liability, which has been the subject of much criticism and calls for reform or elimination.
Date: July 2, 1998
Creator: Ripy, Thomas B.
Partner: UNT Libraries Government Documents Department

Cigarette Taxes to Fund Health Care Reform: An Economic Analysis

Description: A cigarette excise tax increase of 75 cents per pack has been proposed to finance part of the President's universal health care program. The tax enjoys considerable public support, would raise about $11 billion per year, and would be relatively simple to administer because it would increase an existing manufacturer's excise tax. This report discusses these rationales, as well as other effects of and concerns about the tax, organized into topics of market failure as a justification for the tax (i.e., economic efficiency); potential for revenue; equity; and the job loss the tax might cause in tobacco growing regions.
Date: March 8, 1994
Creator: Gravelle, Jane G. & Zimmerman, Dennis
Partner: UNT Libraries Government Documents Department

Budget Surpluses: Economic Effects of Debt Repayment, Tax Cuts, or Spending - An Overview

Description: Updated projections released on July 15 by the Congressional Budget Office (CBO) indicate budget surpluses rising from $63 billion (0.9% of GDP) in FY1998 to more than $100 billion (1.3% to 1.5% of GDP) from FY2002 through FY2005 and over $200 billion (1.8% to 1.9%) from FY2006 through FY2008.1
Date: July 23, 1998
Creator: Cox, William A
Partner: UNT Libraries Government Documents Department

Effects of Flat Taxes and Other Proposals on Housing: An Overview

Description: Studies have estimated that some of these revisions would cause a decline in demand for houses and significant reduction in house prices--perhaps in excess of 15 percent. These studies, however, presumed a fixed supply of housing; even a limited supply response would greatly decrease predicted asset price effects. Supply response is likely to be large in the long run and not insignificant in the short run. Effects on housing demand might also be mitigated by increases in savings rates and lower interest rates. Thus, effects of the flat tax on housing prices are likely to be limited in the short run and very small in the long run. Rental housing demand, on the other hand, would be encouraged with a shift to a consumption tax base.
Date: June 17, 1996
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department